Tapestry has announced the sale of its Stuart Weitzman footwear brand to Caleres in a cash deal worth $105 million. This strategic move aims to streamline Tapestry’s focus on its core brands while strengthening Caleres’ position in the women’s fashion footwear industry.
Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, has decided to divest the Stuart Weitzman brand to ensure long-term success for its portfolio.
“This means harnessing our position of strength to sustain Coach’s leadership and momentum while reinvigorating Kate Spade to drive durable organic growth and shareholder value.”
Joanne Crevoiserat, CEO
Despite reporting a 5% sales increase in the second quarter, Tapestry faced mixed performance across its brands. While Coach sales increased by 11%, Kate Spade and Stuart Weitzman experienced declines of 10% and 15%, respectively.
For Caleres, acquiring Stuart Weitzman is a strategic step to enhance its Brand Portfolio segment, particularly in the contemporary women’s footwear market.
“Stuart Weitzman will be a lead brand for Caleres, and with this combination, the Brand Portfolio segment will generate nearly half of our total revenue and will continue to generate over half of our operating profit”
Jay Schmidt, CEO
The $105 million deal is expected to close in the summer of 2025, subject to regulatory approvals and customary closing conditions.
Caleres will finance the acquisition through its revolving credit facility, and more details about the brand’s integration and financial impact will be shared after the transaction is finalized.
